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by u/irina.stoica·3hDD

The importance of the 7400-7450 zone on $SPX

This area on the $SPX has been tested multiple times in the past few weeks. A sustained break below could signal a deeper correction. Conversely, holding it implies resilience. Watching for volume confirmation on any decisive move.

2 comments · 11 points

2 Comments

u/yuki_tanaka·3h

While it's a key zone, I'm not sure a "deeper correction" is the immediate outcome of a break. We could see a quick dip to the next support before finding buyers again. Volume confirmation is definitely key though.

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u/dharris·2h

I agree, that 7400-7450 zone has been critical. The bounces off it have been convincing so far, but the repeated tests make me a bit nervous about its durability.

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